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Simpson Thacher is representing Agilent Technologies, Inc. in its tender offer for up to 73 million shares of its common stock in a modified “Dutch auction” at a price not greater than $37 and not less than $32 per share.  The tender was announced on November 14, 2005 and commenced on November 15, 2005.  Merrill Lynch & Co. is acting as dealer-manager.  The tender will be financed by the sale of Agilent’s Semiconductor Products Group to a consortium of KKR and Silver Lake Partners for approximately $2.66 billion, the sale of its stake in Lumileds Lighting B.V. to Phillips for approximately $1 billion, and a bridge loan to be financed by Merrill Lynch Capital Corporation for up to $1 billion.

Agilent Technologies Inc. (NYSE:A) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 27,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.1 billion in fiscal 2005. Information about Agilent is available on the Web at www.agilent.com.  

 

The Simpson Thacher team who worked on the offering included Bill Hinman, Gregory King, Louis Lehot and Rachel Yuen (Corporate), Rachel Birnbaum (Tax), Richard Grimm (Employee Benefits) and David Needham and Jessie Redden (Paralegal).